In this second part of the research paper assignment, an article is reviewed and synthesized. The chosen manuscript is Social media: The new hybrid element of the promotion mix, by Mangold and Faulds (the preceding link will download the article from Google Scholar). The paraphrased portion is indicated within the body of the following text.
Synthesis and Paraphrase
Western Governors University
This report gives a thorough examination of the communications management process, a focus frequently undervalued in the available literature. The title provides an explanation of social media as a new fusion of traditional marketing strategy constituents. Five rudiments mark value in this source, including dynamic elements of marketing and promotional communication, the representation of social networking, the intelligence interchange concept, communication management techniques, and description of the shift of the current communications paradigm.
The principal argument of the article is a description of the hybrid disposition of social media in existing marketing strategies. Traditional business communications archetypes have utilized a one-way modus of dissemination, that of the company to the consumer. Little regard was given to customer opinion shared laterally within the marketplace. However, the ability to control disseminated information about a company to the public, classically the purview of management, has been transposed to the customer base due to the template modification caused by social media and Web 2.0 (Mangold & Faulds, 2009). This is illustrated by case studies of firms such as General Electric and Proctor and Gamble, in which they structured information interchange by leveraging social media campaigns in league with established company goals, leading to successful customer perception of corporate persona and desired data trade between consumers.
Other relevant concerns designated by the editorial suggest a prerequisite for managers to embrace the Web 2.0 communique model as well as understand limitations resultantly imposed, and to operate within this framework in an endeavor to moderate awareness shared between buyers. Business methodologies have changed with the onset of Web 2.0 tools, particularly with the development of user generated content (UGC), which includes the ability of consumers to vocalize concerns in social media such as online forums and blogs. (Mangold & Faulds, 2009) This constitutes word-of-mouth advertising, and while outside the direct control of marketers, can be influenced in routes that ascertain a posture which is advantageous for the company while preserving adherence to inaugurated mission statements and other customary mandates.
With an eye towards established policy, advancement of marketing efforts must be attended by cognizance of company mission statements and values. Web 2.0 applications provide intercommunication with consumers in addition to each other. Blogs and Facebook populations provide mediums for intercommunication between companies and clients. Customers are also able to use these to commune, which enables viral marketing to large population segments. The ability of inter-consumer communication has been referred to as “an extension of traditional word-of-mouth communication”. (Mangold & Faulds, 2009, p. 364) These characteristics consequently establish social media as an amalgamated element in marketing campaigns, an integral parameter which must not be disregarded.
One would wonder if the authors have sufficiently considered the psychological sensitivities and motivations of customer behavior. Firms are able to discourse with customers, and customers with each other, through the use of Web 2.0 tools (Mangold & Faulds, 2009). Yet little attention is given to those impetuses and actions demonstrated by buyers in the marketplace. This regard becomes a valid apprehension when scrutinizing those approaches designed to exert guidance among social media participants.
Because this report demonstrates the intercommunication aptitudes of Web 2.0, relevance to the research paper’s thesis statement is well established. While a lack of importance perception and appreciation of the human element, that is, the emotional connection so often attached to products and services by customers, involved in businesses social networking communication with consumers seems evident, manifestation of increased communication via Web 2.0 methodologies leading to greater customer satisfaction, and ultimately enhanced business opportunities, serve to provide germaneness.
Note: This paraphrase is of the section shown on pages 359 (last paragraph) and 360 (first paragraph) of the original document: Social media – The new hybrid element of the promotion mix – Mangold and Faulds.
Historically, constituents of marketing strategies have been synchronized, with the various parameters being under the direct control of the firm and related representatives. Information streams ran from the company to the consumer, while customer articulation was limited in scope and effect among buyers. This had been the case since the Second World War, principally due to the optimized jurisdiction over correspondence methods which have benefitted business. Within the realm of Web 2.0 communications applications, promotional executive’s traditional hegemony over what is being said and when about products and services has been rigorously compromised, with data originating with consumers via social networking sites, blogs, and forums. This has impacted customer conduct by empowering the marketplace secondary to the independence of these programs, and stands as a novel paradigm (Mangold & Faulds, 2009).
Mangold, W. G., & Faulds, D. J. (2009). Social media: The new hybrid element of the promotion mix. Business Horizons, 357-365.